Don't know the results of Baird's 2011 ideas, but I'm sure they were better than John Paulson's.
My best idea is to take what the market gives me. For example, I'm probably the only one
on SI to have taken a position today in Pricesmart. Because I didn't care if I got sold the
stock, I put a bid out there for what at the time was a low ball bid at 57.60. The stock dipped
another buck under that, which put it's losses at -20% on the day, but then came back and
closed at 60.63.
Pricesmart is called the Costco of Latin America. This is the second quarter in a row it
missed earnings estimate. Just like Costco, it wasn't able to pass on rising cost of
product to consumers. I'll flip the stock on a bounce and wait and sees what the market
gives me next. Very different from your trading, I know.
If I get "stuck" with the stock, I also wouldn't mind as I believe it's a growing company,
conservatively well managed, in an area of the world that actually has a growing economy.
.
But anyway, to address your point, my experience is similar to yours. With rare exception,
my best ideas are also not normally my best market performers. |
